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| Ellington Financial's Series A Preferred Stock Crosses Above 7% Yield TerritoryBy Preferred Stock Channel Staff, Wednesday, February 10, 2:29 PM ET
In trading on Wednesday, shares of Ellington Financial Inc's 6.750% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (NYSE:EFC.PRA) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.6875), with shares changing hands as low as $23.89 on the day. This compares to an average yield of 6.84% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, EFC.PRA was trading at a 3.48% discount to its liquidation preference amount, versus the average premium of 1.14% in the "Real Estate" category. The chart below shows the one year performance of EFC.PRA shares, versus EFC:
Below is a dividend history chart for EFC.PRA, showing historical dividend payments on Ellington Financial Inc's 6.750% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock:
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation. In Wednesday trading, Ellington Financial Inc's 6.750% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (NYSE:EFC.PRA) is currently off about 1% on the day, while the common shares (NYSE:EFC) are up about 0.1%.
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